Swissquote affirms a minimum CHF 185 million pre-tax profit for 2022
Leading Swiss online trading company Swissquote recently reported 2022 pre-tax profits of at least CHF 185 million and net revenues of CHF 400 million.
Swissquote attests that its yearly financial results are consistent with the forecast made in August 2022. Swissquote has been able to operate comfortably in a challenging market climate because to its varied revenue sources and a higher percentage of non-transaction based revenues.
Assets held by clients were CHF 52.2 billion as of December 31, 2022. Strong net new money of CHF 7.7 billion in 2022 might offset some of the unfavourable market impact.
The complete report for the fiscal year 2022 will be released on March 16, 2023.
Recall that operating revenues were CHF 204.8 million for the first half of 2022, down 23.1 percent from the same period in the prior year (CHF 266.4 million). Net revenues was CHF 200.0 million, down 24.4 percent from CHF 264.4 million the previous year, after adjusting for negative interest rates (CHF 4.1 million) and fair value adjustments (CHF 0.7 million).
Customers were more cautious when trading in the first half of 2022, according to Swissquote, but they continued to invest, especially in higher-risk asset classes like crypto assets.
Pre-tax earnings fell by 32.7% to CHF 90.7 million (CHF 134.6 million) in the first half of 2022, but the pre-tax profit margin was steady at 45.3 percent (50.9 percent).
Public.com announces the Rare Sneaker Portfolio and commits fully to alternative investing
A first-of-its-kind alternative asset, chosen for investment potential and offered via an online investing platform…
Italian stocks are now available for trading by eToro users
The Israeli social trading and multi-asset brokerage firm eToro has added new markets, including Italian…
Interactive Brokers volumes end a losing streak of three months
The trade volumes reported by electronic brokerage company Interactive Brokers LLC (NASDAQ:IBKR) increased in January,…
BlackRock and BUX collaborate to introduce ETF savings plans across Europe
Exchange-traded fund (ETF) savings plans are now available in Europe thanks to a collaboration between…
Dukascopy Expands MT4 Platform with New Indices
A Volatility Index (VOL.IDX) and a South Africa Top 40 Index (SOA.IDX) have been added…
Traders may respond in real time to US tech earnings using City Index
City Index, an affiliate of StoneX, allows traders to enter positions when others cannot. The…